XAUUSD - RETRACING BEFORE MOVING DOWN THE SLOPE
XAUUSD - H4
As you can see, Gold is potentially forming a bullish divergence in the H4. Predicting that Gold is going to meet the daily classic support at 1680.
Confluences:-
1. False break from the zone
2. Potential to form a bullish divergence
3. Potential to chase the fibonacci cluster area
4. Sell zone aligns with the fibonacci cluster area.
STRATEGY
1. BUY (COUNTER TREND)
2. SELL AT THE PURPLE ZONE
As you can see, Gold is potentially forming a bullish divergence in the H4. Predicting that Gold is going to meet the daily classic support at 1680.
Confluences:-
1. False break from the zone
2. Potential to form a bullish divergence
3. Potential to chase the fibonacci cluster area
4. Sell zone aligns with the fibonacci cluster area.
STRATEGY
1. BUY (COUNTER TREND)
2. SELL AT THE PURPLE ZONE
Trade closed: target reached:
EXPECTED DOWNSIDE TARGET HAS BEEN REACHED.